Bahrain's Ibdar successfully exits fourth aviation deal

Ibdar Bank has announced the successful exit of three Q400 aircraft on lease to Falcon Aviation.

Bahrain's Ibdar successfully exits fourth aviation deal

Manama, Bahrain 24 July, 2016: Bahrain-based wholesale Islamic Investment bank, Ibdar Bank, has announced the successful exit of three Q400 aircraft on lease to Falcon Aviation, marking the fourth successful aviation exit by the Bank within the last two years.

Commenting on the successful deal, CEO of Ibdar Bank, Mr. Ayman Sejiny said: “These successful exits further underscore the Bank as the reference aircraft leasing and investor platform in the GCC, and are testament to Ibdar’s capability for placement of future deals, and its ability to provide clients with income generating assets.”

The sale of the 3 aircraft, which were acquired in June & July 2015 and leased to Abu Dhabi based specialized airline Falcon Aviation Services, is the Bank’s fourth successful aviation leasing transaction in the last two years comprising the sale of 9 aircraft. To date, the Bank has completed USD 277 million in aviation transactions, and is working on bringing to market new transactions in the sector to replace the exited assets.

Mr. Mohammed Kettani, Executive Director and Head of the Bank’s Private Equity division added: “The Bank continues to build its aviation vertical in line with investor demand for yielding products. Ibdar Bank, with the backing of its shareholders, will further develop its aviation leasing platform with the purchase of additional assets during 2017”

In addition to its significant expertise in aviation investment, the Bank has built an impressive track record in infrastructure, maritime, oil and gas, and real estate among others.

About Ibdar Bank

Ibdar Bank is an ethics driven, globally focused Islamic Investment bank engaged in Debt Capital Market (DCM), Equity Capital Market (ECM), Private Equity, Asset Management, Real Estate, Treasury and Capital Markets, and investment advisory activities. The Bank is strengthened by a diversified regional shareholder base including such names as Kuwait Finance House, Kuwait Investment Company, Qatar Islamic Bank, Bahrain Islamic Bank, and the Islamic Corporation for the Development of the Private Sector.

The Bank was established in 2013 as a result of the merger of three Bahrain-based Islamic banks, Elaf Bank, Capivest and Capital Management House. Ibdar has USD233 million in paid up capital and a geographical reach that spans the GCC and MENA region and select developed markets.

Since inception, the Bank has built a track record in the Aviation, Real Estate, Sukook and Asset Management sectors, and remains focused on providing superior Islamic Investment Banking services whilst operating to the highest standards of ethical and sharia banking practices. The Bank is a keen supported of the elevation of the Islamic Banking and Finance Industry as a whole, and the reinvigoration of the Kingdom of Bahrain as the global Islamic Banking hub.

© Press Release 2017

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